Private Mortgage Insurance, Provided by MGIC

Private mortgage insurance is usually required on mortgages with down payments of less than 20% of the property value. But making a 20% down payment can be a barrier to homeownership for many homebuyers. Mortgage insurance was created to reduce that barrier and help more people afford homeownership.

With private mortgage insurance in place, your members can obtain mortgages with smaller down payments — as little as 3% in some cases. With MGIC, your credit union shares the risk of foreclosure, reducing your losses and freeing up your capital for other things — like lending to more members.

Why we selected MGIC, and you should too

Financially Strong

MGIC is financially strong, with current assets well in excess of stringent regulatory standards. A.M. Best rates MGIC as ‘A-‘ (Stable)¹ based on its financial strength.

Comprehensive Mortgage Product Set

MGIC’s Portfolio Playbook mortgage product solutions are designed to help you stretch beyond Government-Sponsored Enterprise limits to offer more flexible financing options to a broad spectrum of borrowers.

Claims Paid

In the event the borrower defaults, MGIC pays your claim for their share of the risk, which includes their portion of the unsecured loan and foreclosure expenses. MGIC has paid nearly $17 billion in claims since 2008.²

Want to learn more?

Complete the information below and one of our associates will contact you.

We’re proud to introduce members and credit unions to MGIC for private mortgage insurance. Our companies share a passion for serving credit unions and the same commitments to financial strength, product expertise, integrity and serving members.


1 MGIC Investment Corporation, Annual Report, 2021.
2Mortgage Guaranty Insurance Corporation, Quarterly Report Q1 2022.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Private mortgage insurance is underwritten by Mortgage Guaranty Insurance Corporation.